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Mar 19, 2013
03/13
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meantime, something about our economy does not add up. we all know that. the latest government numbers show consumers spending grew at a strong pace. that's great because consumer spending counts for 70% of the total economic activity. here's the weird part. we're not seeing the expected comparable rise in our paychecks. we're spending more but no making more, and we're not spending more on credit cards. in fact the expert said the payroll tax hike would slow spending. it did not. so what is this? and rick suggests that more americans are taking advantage of the underground economy, earning and spending cash off the books to avoid taxes or other regulations. rich is with us know. the chief been the correspondent for u.s. news and world report. at it the worst kept secret in the nation there is an enormous underground economy where people get paid cash and don't get benefits. it's a cash world. >> some of that is a constant. we know about landscape workers and nannies and illicit operators like drawing dealers and bookies who work in the dark economy. but t
meantime, something about our economy does not add up. we all know that. the latest government numbers show consumers spending grew at a strong pace. that's great because consumer spending counts for 70% of the total economic activity. here's the weird part. we're not seeing the expected comparable rise in our paychecks. we're spending more but no making more, and we're not spending more on credit cards. in fact the expert said the payroll tax hike would slow spending. it did not. so what is...
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Mar 14, 2013
03/13
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good economy, great market. bad economy, lousy market. but this is a bubble. there's no doubt. it's a bubble created by the fed because we're presenting money to keep interest rates low. the question is, you have to be in it because if you're not you're going to lose. >> but you're getting in at the top. >> that's the problem. my issue is this. if you're thinking about getting now, the 15,000 -- when the fed wants to raise rates get out quick. >> can you put this on the screen. fortune magazine suggests the fed policy of using ultra low interest rates is actually having the opposite effect. it is not increasing the lending. >> the reason why is -- first, dodd frank and all these reform bills. so why lend money, which is risky to use, starting a business, when i could put money in a less risky instrument like a bond, mortgage-backed security. that were collapsed during the financial crisis but you can buy them cheap. banks shifting from lending to you and putting in some bond. >> charlie, good to see you. >>> the reported cyberattack of several high profile politicians, business
good economy, great market. bad economy, lousy market. but this is a bubble. there's no doubt. it's a bubble created by the fed because we're presenting money to keep interest rates low. the question is, you have to be in it because if you're not you're going to lose. >> but you're getting in at the top. >> that's the problem. my issue is this. if you're thinking about getting now, the 15,000 -- when the fed wants to raise rates get out quick. >> can you put this on the...
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Mar 20, 2013
03/13
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officials are trying to find a new way to keep their own economy afloat after the parliament rejected a bailout that would have taxed its own citizens' bank accounts. the banks are closed the rest of the week. >>> where are we with this situation? >> in a standstill when it comes to cyprus. the parliament is betting the european union and central bank will not cut them off for -- not going through with the plan to tax deposits. they have almost a week to negotiate. next tuesday is when the banks open up. in the back channels with russia on financial support, so it seems they're hoping they can find a stopgap. >> shepard: what i didn't understand was the real problem with this situation in spy russ is the russians, who have been laundering money, have stashed so much money in the banks, the banks are bigger than the economy in the country. so they could have taxed it at 13%. they have, like our federal deposit insurance company, they have guarantees up to 100,000 euros. why not tax problem kids and not every day folks. >> it could come to that. the vote that failed was above 20,000 eur
officials are trying to find a new way to keep their own economy afloat after the parliament rejected a bailout that would have taxed its own citizens' bank accounts. the banks are closed the rest of the week. >>> where are we with this situation? >> in a standstill when it comes to cyprus. the parliament is betting the european union and central bank will not cut them off for -- not going through with the plan to tax deposits. they have almost a week to negotiate. next tuesday...
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Mar 13, 2013
03/13
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cardinal, he was really widely seen as the conscience of the church in looking at the impact of the global economy on the poorest. and that is something that i think is a real hallmark of his stewardship and something we'll want to see how he brings that conscience and that economic understanding to the papacy. >> shepard: 500 million catholics in latin america. it's been a. >> did you're trying to send a couple of messages, it seems -- with divine inspiration picked a man of and by and for the people, if you will, and have also said latin america, we recognize you. >> i think that's exactly right. i think when he greeted everyone with buenos aires and there was -- just that thunderous wave of applause in st. peter's square, it said it all. the catholic church has gone through tremendous scandal, tremendous strain. it's suffering. it's had a deep moral and economic crisis, and it's looking for someone to lead it through to a new beginning. i think hearing those words, buenos aires, was the first harkening of that change. or at least a recognition that hope is very strong out there for change. we'l
cardinal, he was really widely seen as the conscience of the church in looking at the impact of the global economy on the poorest. and that is something that i think is a real hallmark of his stewardship and something we'll want to see how he brings that conscience and that economic understanding to the papacy. >> shepard: 500 million catholics in latin america. it's been a. >> did you're trying to send a couple of messages, it seems -- with divine inspiration picked a man of and by...
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Mar 21, 2013
03/13
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could lead to a stronger euro in northern europe but you could see big disruptions in the international economy just at a time when things were starting to look better. >> shepard: some disturbing video out of san diego. cameras caught people kicking and punching and sitting on top of mother seals and their pups. look at this. happened on a stretch of beach where seals come to give birth. cameras caught these two women abusing. the. the san diego mayor has now closed the stretch of beach in the nighttime hours the decision is not setting well with beach-goers, arguing the actions of a few should not close the beach for everybody. supporters the closure say it's a small stretch, and if people are going to kick these defenseless animals you have to do something. >> it's 150 feet, and groups argue that stretch of beach is a key shelter for more than 200 harbor seals and their pups-especially during breeding season, which is from january to the end of may. they say the cove guess for the seals, the environment, and tourism, and the abuse, they've say it happens all the times. >> our immediate respo
could lead to a stronger euro in northern europe but you could see big disruptions in the international economy just at a time when things were starting to look better. >> shepard: some disturbing video out of san diego. cameras caught people kicking and punching and sitting on top of mother seals and their pups. look at this. happened on a stretch of beach where seals come to give birth. cameras caught these two women abusing. the. the san diego mayor has now closed the stretch of beach...
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Mar 15, 2013
03/13
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the economy has a lot more room to improve. we have made some things but we have seen confidence return. housing market is starting to show small signs of recovery. government spending, it's there, yes, we have a gridlock on capitol hill. that is one thing that keeping consumers back and the reason they haven't been participating in the market. overall the market are doing well. what you are not seeing the little guys participating. big guys.... >> gregg: i'm waiting for the bubble to burst. >>> eventually. >> gregg: we might be buying at the top. [ laughter ] >> gregg: shibani, thanks very much. big political conference heading into the rally speech. highlights from mitt romney and more from chris wallace coming up. you want to see something cool? snapshot, from progressive. my insurance company told me not to talk to people like you. you always do what they tell you? no... try it, and see what your good driving can save you. you don't even have to switch. unless you're scared. i'm not scared, it's... you know we can still see
the economy has a lot more room to improve. we have made some things but we have seen confidence return. housing market is starting to show small signs of recovery. government spending, it's there, yes, we have a gridlock on capitol hill. that is one thing that keeping consumers back and the reason they haven't been participating in the market. overall the market are doing well. what you are not seeing the little guys participating. big guys.... >> gregg: i'm waiting for the bubble to...